What's The Difference Between Debt Consolidation And Credit Card Refinancing

What's The Difference Between Debt Consolidation And Credit Card Refinancing – Connecting with literature is reconstruction. These notes were created as I read to aid my understanding and were not written to instruct me. With that being said, I thought I’d share this raw post in case it might be helpful to other readers.

This entry in the loan book is divided into two parts. The first part is a brief summary of the book. The second step is to rebuild each chapter.

What's The Difference Between Debt Consolidation And Credit Card Refinancing

Graeber cherry-picks his data (some of it flawed) to paint a powerful but skewed picture of economic history that highlights his biases.

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First (Chapter 2) he explains Adam Smith’s liberal/capitalist theory, which means that Smith mischaracterizes the concept of “exchange” as human power to determine the market and establish economics as a discipline. What’s wrong with Smith, in Graeber’s opinion, is that the history he shows (Exchange > Money > Debt) is exactly what happened! Before financial institutions existed, they were governed by exchange as neighbors held goods that they gave to each other as support (loans). Historically, credit was the main form of economic behavior and it was only when money got to the point that people began to barter when money was not available.

Next (Chapter 3), he turns to the concept of a socialist/primary debt economy. If Adam Smith believed that we owe nothing to anyone from the beginning (free traders), then another idea is different: humanity begins with an unlimited debt to nature. As evidence, this philosopher cites how religion is often framed in the language of debt. They also argue that the government has the right to own this massive debt – this leads to a socialist ideology where the government has absolute control over the economy and markets. Graeber’s critique of these believers is simple: he shows that religious debt (debt to nature / God) and moral debt (obligation to family / society) are very different from the concept of economic debt.

In Chapter 4, Graeber presents his definition of money. Money and Property (Smith) and IOU (early loan). He continues to reject the liberal ontology of both the liberal and socialist traditions. Drawing on Nietzsche, Graeber shows that the tradition of freedom (we owe it to no one) and socialist culture (we owe it to everyone) are based on the same false idea: they regard reciprocity as the only concept that governs human relations. That is why both principles have limitations regarding human relationships such as being “useful” to others.

In Chapter 5, Graeber presents three different types of social psychology that he believes govern human relationships. First, communism operates on the principle that “to each according to his need, from each according to his ability.” It describes the human impulse to help without expecting anything in return when the need is great enough or the demand is small enough. Second, exchanges operate on the concept of equality. Both groups feel a responsibility to give back to others what they have received. This responsibility is a debt. Finally, proactive leadership operates on past experience: what is expected of the team in the present is what was expected of it in the past. With these three ideas, Graeber gives his definition of what debt is: an unresolved exchange Debt is more intolerable than power because it operates with the place of exchange (equality) but in reality of power (authority). ). He says the spread of markets and economies has blinded us to communism and authoritarianism.

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In Chapters 6 and 7, Graeber presents his story of how we moved from a gift economy (no money, neighbors helping each other using communism and barter) to a market economy. This inevitably brings us to the center: human capital. Human capital is where the money starts. This money (“traditional” money) is never used to buy or purchase anything for yourself, it is used to repair relationships between people (Think, valuables are used to settle blood feuds or fix marriages). Most importantly, they don’t look like the person they’re modifying. This inequality is a particular expression of the meaning of human life. In Chapter 6, Graeber details how human wealth is destroyed when introduced into a market economy: the same money that represents the value of human life becomes the price to buy people into slavery. In Chapter 7, Graeber explains how the gradual transition from a social economy to a market economy destroys society. An important concept for him is respect because of its double meaning. Respect is about showing respect, but when it comes to money, respect comes by measuring the power one can get from the respect of others.

First, you have the old communist group. They are a group of hunter gatherers who work almost on communist ideology and position. These people do not engage in exchanges unless they are with strangers. Unlike money.

Then, you have many riches. This is financing where the main form of financing is to give gifts to your neighbors and expect similar gifts when you need them in the future. This tab, whether physical or emotional, is the closest thing to money. But, there is no single religion.

The next step is human capital. The main economic method can remain the same as the gift economy. But social capital is growing. What defines social capital is that this social capital (name of various social activities) is an expression of the value of each person’s life. They are not considered equal to human life.

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So there you have it, what we call a “team of heroes”. Medieval Ireland, with its venerable honor, may be a good example. Again, the first economic option can give a gift in a small area. The main difference is that now there is a known and fixed price to “buy” one. In other words, money is considered equal to human life.

Finally, you have market economy. This is when almost everything seems to sell for money. Yes, market economies differ greatly depending on whether people can be bought (ie whether slavery is allowed). In a market economy, human trafficking is worse than in a hero society: in a hero society money of “respectable value” is not the same as common goods. This means that there is no similarity between a person and X number of shoes, because the social currency is only used to exchange people. This is not the case in a market economy.

As you go (expanding the world of things like money), Graeber wants to say that more violence is needed. You need constant violence to reorganize the folk economy and buy and sell slaves to the warrior class. He also wants to show that the idea of ​​value takes a very distorted form. When it comes to showing respect in the old world, in the later countries, respect is about your ability to control others and protect people from control. The idea is: when people start selling and are easily removed from their culture, it becomes very important whether they sell or sell. Graeber saw this as the beginning of patriarchy: as the prostitution of daughters and indebted women increased, the most powerful men pursued chastity as a feminine trait, preventing their wives from participating in public life. Another way to explain this is: when most things in society are driven by money, many things and people are easy to compare and contrast. Therefore, the opinions of important people are more widely expressed.

Obviously, the main difference between market economies is whether people are traded. Another important difference is that the base currency is real/debt or real/gold. In the past, such as Mesopotamia, although all vessels were kept in silver, silver did not go outside certain institutions. A true market economy would adopt many features of a talent economy (for example, one’s reputation is important in doing business). Chapters 8 – 12 are a review of economic history that defines history as a cycle between periods of real and virtual money. I won’t summarize everything in this summary, but I will highlight one last definition Graeber made: capital. Graeber takes capital as money needed for growth. One of the ways this shows is how politics and war benefited money in the capitalist empire, while money was the end of politics and war in the Axial Age. Another way he shows this is by pointing out the fact that

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